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"... world economy roughly accorded with the idea of three distinct economic systems: a capitalist first world, a socialist second world, and a developing third world which aimed for a middle way between the first two. The third world was characterized not only by its low levels of per capita GDP, but al ..."

institutional harmonization and economicintegration among nations in world history. While economicintegration was increasing throughout the 1970s and 1980s, the extent of integration has come sharply into focus only since the collapse of communism in 1989. In 1995 one dominant global economic system

"... We estimate the respective contributions of institutions, geography, and trade in determining income levels around the world, using recently developed instrumental variables for institutions and trade. Our results indicate that the quality of institutions “trumps” everything else. Once institutions ..."

We estimate the respective contributions of institutions, geography, and trade in determining income levels around the world, using recently developed instrumental variables for institutions and trade. Our results indicate that the quality of institutions “trumps” everything else. Once institutions are controlled for, conventional measures of geography have at best weak direct effects on incomes, although they have a strong indirect effect by influencing the quality of institutions. Similarly, once institutions are controlled for, trade is almost always insignificant, and often enters the income equation with the “wrong” (i.e., negative) sign. We relate our results to recent literature, and where differences exist, trace their origins to choices on samples, specification, and instrumentation.

"... This essay provides a perspective on the trend towards integrating psychology into economics. Some topics are discussed, and arguments are provided for why movement towards greater psychological realism in economics will improve mainstream economics. ..."

This essay provides a perspective on the trend towards integrating psychology into economics. Some topics are discussed, and arguments are provided for why movement towards greater psychological realism in economics will improve mainstream economics.

"... This paper investigates the effects of labor market integration, in the form of worker mobility, in a model with long-term labor contracts that lead to wage rigidities and unemployment. Increased mobility leads to more flexible labor market institutions in which firms can more easily vary the level ..."

of employment in response to fluctuations in demand. Economicintegration is potentially Pareto-improving but, in the absence of a system of compensation, workers are harmed by greater labor mobility while the owners of firms benefit from higher profits.

"... Modern economies experience substantial fluctuations in aggregate output and employment. In recessions, employment falls and unemployment rises. In the years immediately after a recession, the labor market is slackunemployment remains high and the vacancy rate and other measures of employer recruit ..."

to driving forces. My characterization of wage stickiness is rather different from earlier ideas of wage rigidity and more closely integrated with the matching process. The model describes an economic equilibrium and overcomes the arbitrary disequilibrium character of earlier sticky-wage models. A line

"... The paper develops a procedure for finding a discrete-valued Markov chain whose sample paths approximate well those of a vector autoregression. The procedure has applications in those areas of economics, finance, and econometrics where approximate solutions to integral equations are required. 1. ..."

The paper develops a procedure for finding a discrete-valued Markov chain whose sample paths approximate well those of a vector autoregression. The procedure has applications in those areas of economics, finance, and econometrics where approximate solutions to integral equations are required. 1.

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JSTOR, please contact support@jstor.org. This paper elucidates the underlying economics of the resource-based view of competitive advantage and integrates existing perspectives into a parsimonious model of resources and firm performance. The essence of this model is that four conditions underlie

"... With increasing size and complexity of the implementations of information systems, it is necessary to use some logical construct (or architecture) for defining and controlling the interfaces and the integration of all of the components of the system. This paper defines information systems architect ..."

With increasing size and complexity of the implementations of information systems, it is necessary to use some logical construct (or architecture) for defining and controlling the interfaces and the integration of all of the components of the system. This paper defines information systems